Journal articles and other professional publications

E. Percy, A Bailey, A Wreford (Lincoln University, Christchurch, New Zealand)
Gary Owen Garner (New Zealand Institute of Valuers)

Proceedings of the Property Institute of New Zealand Annual Conference, June 2023

The National Policy Statement for Freshwater Management heralded freshwater regulation rollout in Aotearoa-New Zealand, largely coming into full effect in 2017. New rules introducing a framework for management of freshwater resources were and continue to be progressively introduced at regional levels. A primary aim is to reduce pollution through a focus on nonpoint source nutrient leaching and runoff from farms. Areas of differing environmental risk have been identified and specific nutrient and other rules applied. As a result, the regulations associated with this serve to place controls on productivity in accord with the zoning rules applying for a particular region. On the basis that land value is closely linked to its productive capacity, the value of land is also potentially affected since management systems and farm inputs are constrained. This paper reports on a study that examined the perceived impacts on the farming community at the time that the regulations came into effect, and the actual impact of those regulations five years later, including impact on land value. The study was conducted using a qualitative case study approach.

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Gary Owen Garner and Patricia Kuczynska

Property Professional, Autumn 2022. Property Institute of New Zealand · Mar 24, 2022

This article looks at the role of valuers in the fast-moving area of climate change and its effects.

The emergence of issues surrounding climate change is a swiftly moving area in which most people would agree is increasingly commanding the attention of regulators, the media, environmentalists and the general public. Equally, it is also an evolving matter demanding earnest consideration by New Zealand businesses. Following the 2021 United Nations COP26 Climate Change Conference, a recent Knight Frank report points out that almost every country on earth is now working to tackle climate change. Moreover, this report (Harley et al., 2021) looks specifically at how the world of real estate is adapting, and how the property market might look in the future.

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Gary Owen Garner

Valuer's Education & Integrity Foundation. · Apr 1, 2020

This paper provides a summary of water rights as they currently exist across New Zealand, the
variability of ownership and interests, and how these rights are being impacted by regulatory control
amongst a raft of various stakeholder claims and involvement. It relates specifically to “fresh” water,
i.e. all water except coastal seawater, and geothermal water.

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Gary Owen Garner and Edward Percy

European Real Estate Society 23rd Annual Conference, Regensburg, Bavaria/Germany · Jun 8, 2016

Freshwater regulation is rolling out around Aotearoa-New Zealand following the National Policy Statement for Freshwater Management 2011 and 2014 which introduced a framework for management of freshwater resources. After community collaboration new rules are being progressively introduced at regional levels to reduce freshwater pollution through a focus on nonpoint source nutrient leaching and runoff from farms. Areas of differing environmental risk and set nitrate leaching limits for different zones create water management zones where specific nutrient rules apply. As a result, the regulations associated with this serve to place controls on productivity in accord with the particular zoning rules. On the basis that land value is closely linked to its productive capacity, the value of land is also potentially affected since current management systems and farm inputs are constrained. This report endeavours to understand how this new wave of regulation is currently impacting land values and what the perceived impacts are as regulations come into effect.

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Gary Owen Garner and Veronica Rall.

20th Annual European Real Estate Society Conference. ERES: Conference. Vienna, Austria, 2013.

Purpose - Virtually all nations in the world have 'urbanized' in most or all of the last 50 years. However, urban-to-rural migration has become a recent and prominent occurrence in many developed countries. This change - known as 'counter-urbanization' – typically observes the movement of urban-based businesses and professional people to rural areas to live and/or work for improved quality of life. A much less common form - emerging to be taking place in Canterbury, New Zealand - is demonstrated in the form of population increases in more remote rural areas, typically underpinned by new entrants into 'bona-fide' farming and related occupations. This research is designed to identify the ebb and flow patterns of such rural population drift and then ascertain how the impacts (particularly property value effects) of such phenomenon can be determined.

Design/methodology/approach - Having completed a literature review, the study conducts an exploratory study of the primary data, and then proceeds to examine the value and process of devolving to a longitudinal (correlational research) study using panel data, i.e. time series data with some cross sectional referencing involving property values and population demographics measured over time (multidimensional econometric analysis).

Findings - This study questions whether the 'counter-urbanization' phenomenon in Canterbury is being driven by the advent of dairy conversions and the labour force required to locally provide related goods and services to that industry. Whilst the drifting patterns can be readily determined, less apparent are relationship dynamics between human population drift and property values which might be better explained by variables outside those specifically examined in this study.

Research limitations/implications - This research is designed to specifically exclude 'peri-urban' area analysis relating to the growing popularity of lifestyle blocks, particularly in the proximity of urban areas where daily commuting is possible, i.e. rural areas with moderate to high urban influence.

Originality/value - The observation, recording and analysis of rural drift impact in remoter areas have important implications in terms of infrastructure framework and community development. There are also significant inferences with regards financial and corporate restructuring for business operating in these areas. 

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Gary Owen Garner

22nd Annual Pacific-Rim Real Estate Society Conference, Sunshine Coast, Queensland, Australia · Jan 10, 2016

Problem/Purpose
The economic importance of forestry as a significant industry in Aotearoa is easily demonstrated, contributing billions to New Zealand’s GDP and directly employing of tens of thousands of people. Their importance to Māori is demonstrably even more fundamental whereby a broader set of principles other than those based on individual property rights and economic values are solidly embraced. To Māori, forests are regarded as “taonga” – a “treasure” – and as such are culturally significant assets that are congruent with values emphasising guardianship over ownership, collective and co-operative rights over individualism, obligations towards future generations, and the need to manage resources sustainably.

Design/methodology/approach
This is an observational paper (narrative review) examining the proposition that Māori in contemporary New Zealand are likely to balance economic objectives with social, cultural and spiritual values - even though the embedding of cultural Māori values and principles - especially those relating to environmental protection - are still held to strongly.

Findings
Whilst the proportion of funds relating to forestry settlements under the Treaty of Waitangi underpins the enormity of importance attached to forests, their significance proceeds beyond traditional economic or social measures. Furthermore, the redress amount, or fixed capital sum provided under any Treaty Deed of Settlement agreed to by the Crown tells only part of the story in terms of property settlement and compensation. The more complete picture is that ownership of the land, or part thereof, in addition to accumulated rentals for Crown Licensed Forests has been recovered. In addition, various sites of cultural and spiritual significance located on public conservation land - some of which may contain forest lands – are also included as part of the final redress, thereby further distorting the full compensation amount actually being paid. Notwithstanding, the total compensation package typically represents only a fraction of the current market value of dispossessed land.

Originality/value
This paper provides a cross-disciplinary review of relevant literature on the topic with linkages developed for establishing a theoretical evaluative framework.

Social Implications
Forestry claim settlements and the related Waitangi Tribunal and its legislated processes, though not perfect processes, have nonetheless facilitated a useful mechanism whereby the Crown’s acknowledgement of grievances, formal apology, cultural redress, along with financial and commercial compensation, have gone some way towards recompensing actions and omissions by the Crown since 1840.

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Gary Owen Garner

Pacific Rim Property Research Journal Volume 23 Number 1 March 2017

The economic importance of forestry as a significant industry in Aotearoa is easily established; but to M_ori it is demonstrably even more fundamental whereby a broader set of principles other than those based on individual property rights and economic values are solidly embraced. Manifestation of such importance is also revealed in forestry claims made under Treaty of Waitangi and related legislated processes facilitating recompensing actions and omissions by the Crown since 1840. However, the redress amount provided under any Treaty Deed of Settlement tells only part of the story in terms of property settlement and compensation. The more complete picture is that land gifting including sites of cultural and spiritual significance, and recovery of accumulated rentals for Crown Licensed Forests may also included as part of the final redress – distorting the apparent compensation amount paid. Notwithstanding, total compensation packages typically represent only a fraction of the current market value of dispossessed land. This is an observational paper establishing a conceptual framework, examining the proposition that contemporary M_ori are likely to balance economic objectives with social, cultural and spiritual values – even though the embedding of these principles (especially those relating to environmental protection) are still held to strongly

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